Aug. 27: Asian session
Asian stocks rose, joining a global rally that’s driven world equity values to a record, and bond risk retreated after data signaled a stronger US economy and Russia’s president hailed as “positive” talks over Ukraine.
USD/JPY is trading in the 104.00 area. EUR/USD edged down to $1.3152. GBP/USD is trading close to the recent lows in the $1.6540 area.
Kiwi dollar was the biggest mover in the session: NZD/USD jumped by 50 pips to $0.8375, extending the recovery from $0.8300 support. The currency was supported by good news from the milk giant Fonterra. AUD/USD recovered to $0.9320 despite the downbeat data. Australia Construction Work Done fell by 1.2% in Q2 vs. -0.3% expected.